Scottish Homestake Mortgages, Home stake available for Scotland

HOME STAKE, Making it Easier to Buy Your First Property

Homestake makes purchasing a property for first time buyers less of a burden.

100% Home stake Mortgage Loans of the share of the property you intend buying are available from us.

Funding for Homestake are provided by major UK Banks & Lending Institutions.

We have home stake mortgage lenders to fit all Local Authority, Private Landlords or Housing Association Schemes.

Homestake ownership clients normally may buy further shares in the property as your budget improves.

We offer such schemes to people with poor or adverse bad credit and/or a failure to provide income proof.

Up to 100% Mortgages for Home stake Property Purchases, put simply they allow you to buy a larger property than you maybe could usually afford by sharing the ownership with another party, normally a Local Authority or Housing Association but many other types of private companies now use shared ownership to provide affordable housing. We are pleased to be involved in homestake mortgages and have a large amount of knowledge in obtaining the right funding for the general public even with no proof of income or bad debts.

Homestake is a new concept to assist people on low income who wish to purchase a home but cannot afford the full asking price. Home stake was launched by the Minister for Communities, Malcolm Chisholm, on 8 March 2005 and has been developed by Communities Scotland, the Scottish Executive's housing and regeneration agency. The principle is quite simple and affective a grant is given to a registered social landlord to help them fund part of the price of a Home stake property. You the purchaser pay the majority share in the property, usually with a home share mortgage, between 60 and 80 percent of the price and the registered social landlord will use the grant to pay for the rest. The Homestake owner is the outright owner and responsible for paying off the homestake mortgage and all other charges associated with the purchase and running of the property just like any normal homeowner. The massive benefit from these schemes to Shared Ownership is that there is no rent to pay on the amount that you don't own, this is an amazing benefit to Scottish first time buyer purchasers.

After a 2 year period the Home stake owner can if they have the finances or further advance mortgage funding increase their share of the property to anything upto the full current amount if they fare able to.

When the Homestake owner decides to sell the house to perhaps move onto sole ownership on a new scottish property both the registered social landlord and the Home stake owner receive their full share of the property value at that time. This is of course a great leg up for Scottish purchasers.

We have the expertise to be able to assist you and look forward to receiving your no obligation enquiry for a homestake mortgage.

The right home share mortgages can be difficult to find on the High Street however at least 20 big banks and societies offer them some even with previous adverse bad credit. If you need help with no fees or commitment just call us 7 days a week well even pay for the call on freephone 0800 092 0800.

Once you have made that initial percentage purchase on a homestake mortgage it is recommended that you attempt to purchase further shares in the property as soon as you can comfortably afford to do so, this is to maximise on any increase that the property market might be encountering at that time. We always recommend you read the full terms & conditions and small print on such arrangements and seek qualified legal or conveyancing advice, we are also always happy to assist in providing outline information to you. FREEPHONE us on 0800 092 0800.

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